OIA unveils Social Investment Policy, Launches “Qimam” Platform

Muscat: Oman Investment Authority (OIA) today unveiled a “Social Investment Policy” for its subsidiaries and launched a new platform named “Qimam” to handle queries related to local added value.

The OIA also launched the second version of a list of mandatory products and services scheduled to be provided by OIA subsidiaries (a total of 251 products and services).

The “Social Investment Policy” has a number of objectives:

· Ensuring that social investment projects and plans are aligned with the priorities of Oman Vision 2040 and meet the needs of the local community;

· Developing a framework for social investment at companies affiliated to OIA;

· Determining the approaches of social welfare projects; Regulating governance, tasks and responsibilities assigned to the parties concerned;

· Defining procedures and mechanisms for allocating budget according to the company’s priorities and the status of its financial position;

· Establishing balance between social investment projects and contributions by related sectors and beneficiaries; and

· Enhancing collaboration between OIA companies.

Meanwhile, Qimam digital platform was launched by the OIA to handle all queries related to small and medium enterprises (SMEs), research, development, innovation programmes and the mandatory list of products and services.

The platform seeks to facilitate communication between OIA and its subsidiaries about queries related to in-country value (ICV), study proposals and challenges facing SMEs, help researchers and innovators communicate with OIA affiliate firms and ease contact with local companies to check what products and services can be added or modified in the list of mandatory items.

As part of the “Social Investment Policy”, cooperation agreements worth RO 6 million were signed with SMEs.

In addition, OQ Group launched a business accelerator programme codenamed “OQ-X” and it concluded a cooperation programme with the Ministry of Health to set up an accidents and emergency building in the Wilayat of Duqm. In the same context, Asyad Group and Omantel signed an agreement to devise a business accelerator in the logistics sector.

Asyad inked three contracts with SMEs that are holders of the Entrepreneurship Card, while Oman Airports Company signed six agreements with other SMEs in the field of supply and ground services related to airports.

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